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    elliemae0418's Avatar
    elliemae0418 Posts: 1, Reputation: 1
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    #1

    Apr 29, 2008, 05:38 PM
    Soleproprietorship - can I pay myself an actual payroll check and withhold taxes?
    As a soleproprietor can I legally pay myself a regular payroll check and withhold payroll taxes as well as pay taxes through quarterly self employed taxes paid directly to IRS?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Apr 29, 2008, 05:40 PM
    Yes, but I'm not sure whether that would be an real advantage,
    delite's Avatar
    delite Posts: 202, Reputation: 3
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    #3

    Apr 30, 2008, 09:07 PM
    Quote Originally Posted by elliemae0418
    as a soleproprietor can i legally pay myself a regular payroll check and withhold payroll taxes as well as pay taxes through quarterly self employed taxes paid directly to IRS?
    As a sole proprietor you make withdrawals from the business which will be treated as distributions to soleproprietor. Estimated taxes, et al should be set up and paid,at the end of the year all withdrawals are considered salary subject to federal and local taxes
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    May 1, 2008, 06:13 AM
    Quote Originally Posted by delite
    as a sole proprietor you make withdrawals from the business which will be treated as distributions to soleproprietor. estimated taxes, et al should be set up and paid,at the end of the year all withdrawls are considered salary subject to federal and local taxes
    While that is accurate, that doesn't preclude a sole proprietor from paying himself a salary. Sole proprietorships can have employees.

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